I should have clarified that by “notices” I meant that they are in regards to the tenants not having not paid rent since December.I’ve had notices posted on their door multiple times demanding rent be paid since back then. 

That isn't what I said or meant. ;-) and yes, once upon a time I was a loan officer.In his question the OP is unclear whether it is taking over existing financing with seller carry back or if it is seller getting new financing with seller carry back or if it is buyer getting new financing with seller carry back.

Didn't meant to offend.

In the end, I believe it was meant to be as I knew sooner or later I would need to get away from the big bank.

@Maurice SmithI meant to reply sooner.Yes, I’m looking at the Stockton, Manteca, Modesto, Merced area.I have send few offers but I am realizing that there are lots of cash buyers in this field as well.

Everyone will SAY "oh we follow the same rules just like everyone else," but then they all program different crap into their computers based on what their lawyer said the rule meant, the reality is that no one knows the "real" truth behind these rules, what counts in the 3% or 5%, or APOR, and what doesn't, and when.

I meant the rent coming in is $2300/month. 

The learning even on a break even deal is better than a turn key meant for investors that do not want to learn this business.

That meant out of those 12 weeks there could be 8 we were not actively working on a property. 

For me that meant figuring out how I can find offshore talent to handle my property management, bookkeeping, interior design, everything.